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Analysts say SBI Life deserves better valuation, raise targets
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Analysts believe SBI Life Insurance may keep the lowest-cost life insurer tag, and is set to catch up with its peers on the margins front soon.
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At the prevailing price, SBI Life trades at a FY22 ratio of 2.5 times and FY23 P/EV ratio of 2.2 times.
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NEW DELHI: Analysts are all praise for
SBI Life Insurance post March quarter earnings, as the insurer continued to improve cost ratios – which are best in the industry, and reported a strong VNB (value of new business) growth of 63 per cent YoY, a 209 basis points margin expansion to 22.2 per cent, and an APE (annual premium equivalent) growth of 48 per cent.
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Synopsis
Companies are expected to report a good set of numbers for 2021-22. While it is an earnings bounce back for many, it is a structural growth story for some sectors and companies.
We are on the threshold of another quarterly results season and corporate numbers are expected to be rosy for the fourth quarter of 2020-21. “There will be high topline growth in the fourth quarter because of the low base in the same period last year,” says Deepak Jasani, Head of Retail Research, HDFC Sec.
However, increase in commodity prices and transportation costs will give rise to margin pressures in some pockets and this may moderate the
NSE-BSE bulk deals: Government of Singapore picks 1.67% in SBI Life Insurance
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Last Updated: Mar 12, 2021, 07:09 PM IST
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At the same time, BNP Paribas Cardif, which held 5.2 crore shares of 5.20 per cent in SBI Life sold 5 crore at Rs 911.28.
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The Government of Singapore bought 1.7 crore shares of SBI Life Insurance at Rs 915 per share.
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